The Fido Mastercard is one of a few credit cards offered by Rogers Bank.
The others are the Rogers World Elite Mastercard, Rogers Platinum Mastercard, Rogers Connections Mastercard, and chatr Mastercard.
These credit cards have no annual fees, and you can apply your cash back rewards directly to your Rogers bill.
This Fido Mastercard review covers its benefits, downsides, and alternatives.
Fido Mastercard Benefits
1. No annual fee: This card does not have an annual fee, making it a good addition to your wallet if you need a no-annual-fee cash back credit card.
2. Cash back rewards: Cardholders earn 1.50% unlimited cash back on recurring bill payments and subscriptions. This includes pre-authorized monthly payments like your Fido bill. The card also pays 1% cash back on all other purchases.
3. Welcome bonus: Looking for a credit card sign up bonus? The Fido Mastercard offers a $25 welcome bonus when you make your first purchase within 3 months of receiving the card.
You can redeem cash back rewards for everyday purchases on a $1 = $1 basis. You can also apply them to your Rogers, Fido, or chatr bill.
The minimum redemption amount is $10.
Downsides of the Fido Mastercard
You can earn a higher rate of cashback using a card like the SimplyCash Card from American Express. It offers an unlimited 1.25% cash back on most purchases.
SimplyCash Card from American Express
Rewards and benefits: Earn up to 2% cash back on gas and groceries; 1.25% cash back on all other purchases; travel accident insurance.
Welcome offer: NA
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Annual fee: $0
The Fido Mastercard does not offer basic insurance coverage benefits like purchase protection and extended warranty insurance.
You can get these benefits with the SimplyCash Card from AMEX and the Tangerine Money-Back Credit Card.
The purchase interest for this card is 19.99%, while cash advances have a 22.99% interest rate.
Is the Fido Mastercard For You?
The Fido Mastercard pays a decent cash back rate and has no annual fees.
If you are already a Rogers customer, this card may be worth considering, or you could opt for the Rogers World Elite Mastercard, which offers 1.50% cash back on most purchases.
You should note that the Rogers World Elite requires a minimum personal income of $80,000 per year.
For a more competitive cash back earn rate, the Tangerine Money-Back Credit Card pays 2% cash back on two spending categories (or three if you have a Tangerine savings account) and 0.50% unlimited cash back on everything else.
Tangerine Money-Back Credit Card
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
Or, simply earn a flat-rate 1.25% cash back on everything using the SimplyCash Card from American Express.
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